Paylocity Holding Corporation (NASDAQ:PCTY) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG grew its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 171,994 shares of the software maker’s stock after purchasing an additional 6,670 shares during the quarter. Deutsche Bank AG owned 0.31% of Paylocity worth $32,221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Associated Banc Corp boosted its holdings in Paylocity by 4.5% in the 1st quarter. Associated Banc Corp now owns 1,207 shares of the software maker’s stock worth $226,000 after acquiring an additional 52 shares during the period. TCTC Holdings LLC boosted its stake in shares of Paylocity by 115.9% in the first quarter. TCTC Holdings LLC now owns 149 shares of the software maker’s stock valued at $28,000 after purchasing an additional 80 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Paylocity by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 12,200 shares of the software maker’s stock valued at $2,286,000 after purchasing an additional 100 shares during the period. Securian Asset Management Inc. grew its holdings in Paylocity by 3.1% during the 1st quarter. Securian Asset Management Inc. now owns 3,355 shares of the software maker’s stock valued at $629,000 after purchasing an additional 100 shares in the last quarter. Finally, Chicago Capital LLC lifted its holdings in Paylocity by 1.4% in the 1st quarter. Chicago Capital LLC now owns 7,661 shares of the software maker’s stock worth $1,435,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Activity

In other news, SVP Andrew Cappotelli sold 1,717 shares of the company’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $176.74, for a total transaction of $303,462.58. Following the completion of the transaction, the senior vice president owned 11,953 shares in the company, valued at approximately $2,112,573.22. This represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.91% of the company’s stock.

Paylocity Stock Performance

Shares of NASDAQ PCTY opened at $170.69 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $182.71 and its two-hundred day moving average price is $190.78. Paylocity Holding Corporation has a 52-week low of $146.02 and a 52-week high of $223.80. The stock has a market capitalization of $9.42 billion, a P/E ratio of 42.57, a P/E/G ratio of 3.41 and a beta of 0.54.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results on Tuesday, August 5th. The software maker reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.18. Paylocity had a return on equity of 22.08% and a net margin of 14.24%. The business had revenue of $400.74 million for the quarter, compared to the consensus estimate of $388.25 million. During the same quarter last year, the business posted $1.48 EPS. The business’s revenue was up 12.2% on a year-over-year basis. As a group, sell-side analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Citigroup lowered their target price on Paylocity from $225.00 to $218.00 and set a “buy” rating for the company in a research note on Monday, July 21st. Wall Street Zen upgraded Paylocity from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Scotiabank initiated coverage on Paylocity in a research note on Wednesday, April 16th. They set a “sector perform” rating and a $190.00 target price for the company. BMO Capital Markets raised their price target on shares of Paylocity from $226.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 price target (up from $254.00) on shares of Paylocity in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.19.

Paylocity Company Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.